Godrej Properties Q2 Review - All Eyes On Festive Season Launches: ICICI Securities

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ICICI Securities Report

Along expected lines, Godrej Properties Ltd.’ Q2 FY22 gross sales bookings worth Rs 25.7 billion increased 140% YoY and 418% QoQ owing to Rs 13 billion of sales from new launches during the quarter.

With a strong pipeline of 18 planned launches spread over 11 million square feet in H2 FY22, we expect Godrej Properties to achieve a 22% YoY growth in FY22 sales bookings at Rs 82.2 billion.

With minimal net debt of Rs 0.2 billion as of September 2021 post the qualified institutional placement fund raise of Rs 37 billion in Q4 FY21, Godrej Properties is well positioned to augment its land bank.

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